Bristol-Myers Squibb Company (NYSE:BMY) Stock Rating Upgraded by Vetr Inc.
Vetr upgraded shares of Bristol-Myers Squibb Company (NYSE:BMY) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning. Vetr currently has $62.23 target price on the biopharmaceutical company’s stock.
Several other research analysts have also recently commented on the stock. BMO Capital Markets cut shares of Bristol-Myers Squibb from a market perform rating to an underperform rating and set a $47.00 target price for the company. in a report on Wednesday, May 3rd. Robert W. Baird started coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 25th. They issued an outperform rating for the company. Jefferies Group LLC reiterated a buy rating and issued a $64.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. BidaskClub cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, July 3rd. Finally, William Blair reiterated an outperform rating on shares of Bristol-Myers Squibb in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb has a consensus rating of Hold and an average price target of $63.26.
Bristol-Myers Squibb (NYSE:BMY) opened at 54.79 on Wednesday. The company has a market cap of $90.26 billion, a P/E ratio of 19.03 and a beta of 1.16. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $77.12. The company has a 50-day moving average of $54.58 and a 200 day moving average of $55.03.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Bristol-Myers Squibb had a net margin of 24.22% and a return on equity of 31.86%. The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that Bristol-Myers Squibb will post $2.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 7th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is 54.17%.
A number of institutional investors have recently added to or reduced their stakes in the company. American National Bank raised its position in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares in the last quarter. Welch Investments LLC raised its position in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth approximately $116,000. Blue Chip Partners Inc. raised its position in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 504 shares in the last quarter. 69.63% of the stock is currently owned by institutional investors and hedge funds.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
To view Vetr’s full report, visit Vetr’s official website.
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